Rules laid out for insurers eyeing self-insurance, Xinhua says

The China Insurance Regulatory Commission (CIRC) has announced the eligibility requirements for insurers that seek to set up and manage self-insurance units, Xinhua news agency reported Wednesday. Under new rules, insurers can apply to set up self-insurance entities to cover potential liabilities in property insurance, short-term health insurance and accident coverage of group units. To qualify for such self-insurance, an insurer must have assets of at least 100 billion yuan (US$16.45 billion) and sound risk management capabilities, the report said.

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